By Tony Obiechina, Abuja

Data from the National Pension Commission (PenCom) reveals pension fund assets rose to N17.07 trillion for the period ended 31st July 2023.

This represents an increase of about 1.85% when compared to the N16.76 trillion that was reported as net asset value in June 2023.

This was contained in the PenCom’s monthly report for the month of July 2023.

According to the report, the total pension fund net asset value rose to N17 trillion in the month of June compared to N16.7 trillion reported a month earlier.

A closer look at the data reveals that investment in FGN securities continues to dominate portfolio allocation with about N11 trillion or 64.7% of total net asset value (NAV).

Portfolio allocation to FGN Securities was N10.8 trillion in June or 64.6% of total net asset values.

Pension Funds also allocated N1.8 trillion to Corporate Debt Securities and N1.58 trillion to Money Market Instruments.

Investments in ordinary shares of local companies rose to N1.338 trillion from N1.268 trillion in June.

Fund Allocation which is the default RSA Fund under the Multi-Fund Structure, maintained the largest share of the Active RSA Funds allocation with N7.3 trillion or 43% of the total fund NAV.

Fund allocations also rose from N4.5 trillion to N4.6 trillion maintaining its second position for fund allocation.